Slide Insurance (NASDAQ:SLDE) CEO Sells $3,344,114.28 in Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) CEO Bruce Lucas sold 172,644 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $19.37, for a total transaction of $3,344,114.28. Following the completion of the sale, the chief executive officer directly owned 39,702,356 shares in the company, valued at $769,034,635.72. This represents a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Bruce Lucas also recently made the following trade(s):

• On Monday, March 9th, Bruce Lucas sold 118,300 shares of Slide Insurance stock. The stock was sold at an average price of $18.23, for a total value of $2,156,609.00.
• On Friday, March 6th, Bruce Lucas sold 241,493 shares of Slide Insurance stock. The shares were sold at an average price of $18.59, for a total value of $4,489,354.87.

Slide Insurance Stock Down 4.2%

Shares of NASDAQ:SLDE traded down $0.78 during mid-day trading on Monday, reaching $17.70. 2,983,290 shares of the stock were exchanged, compared to its average volume of 1,682,143. The company has a market cap of $2.20 billion and a P/E ratio of 6.86. The stock’s 50 day simple moving average is $17.55 and its 200-day simple moving average is $16.45. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.03. Slide Insurance Holdings, Inc. has a one year low of $12.53 and a one year high of $25.90.

Slide Insurance (NASDAQ:SLDE) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.36. The business had revenue of $347.01 million for the quarter.

Institutional Trading of Slide Insurance

Several hedge funds and other institutional investors have recently bought and sold shares of SLDE. Capital World Investors lifted its holdings in shares of Slide Insurance by 49.4% during the 3rd quarter. Capital World Investors now owns 4,483,180 shares of the company’s stock worth $70,767,000 after acquiring an additional 1,483,180 shares during the period. Vanguard Group Inc. lifted its stake in Slide Insurance by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 2,761,819 shares of the company’s stock worth $53,800,000 after purchasing an additional 354,321 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Slide Insurance in the 2nd quarter valued at $56,229,000. Balyasny Asset Management L.P. increased its stake in shares of Slide Insurance by 27.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,758,215 shares of the company’s stock valued at $34,250,000 after purchasing an additional 380,161 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Slide Insurance in the 2nd quarter valued at $33,063,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barclays upped their price objective on Slide Insurance from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Morgan Stanley boosted their price objective on shares of Slide Insurance from $18.00 to $21.00 and gave the stock an “overweight” rating in a research note on Monday, November 17th. Zacks Research cut shares of Slide Insurance from a “strong-buy” rating to a “hold” rating in a report on Monday, February 16th. Piper Sandler raised their target price on shares of Slide Insurance from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Slide Insurance in a research report on Friday, December 26th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.40.

About Slide Insurance

Launched in 2021, we are a technology enabled, fast-growing, coastal specialty insurer. We focus on profitable underwriting of single family and condominium policies in the property and casualty (“P&C”) industry in coastal states along the Atlantic seaboard through our insurance subsidiary, Slide Insurance Company (“SIC”). We utilize our differentiated technology and data-driven approach to focus on market opportunities that are underserved by other insurance companies. We acquire policies both from inorganic block acquisitions and subsequent renewals, as well as new business sales through a combination of independent agents and our direct-to-consumer(“DTC”) channel, through which we sell our insurance products directly to end consumers, without the use of retailers, brokers, agents or other intermediaries.